There is a guy over on the Middle Earth Ranger forum that used heavy roller chain to make an axe. Nice axe too. I'd post a link, but I don't seem to be able to :( . I've got quite a bit of the chain that was being thrown out at the mill where I work. I haven't tried to weld any up since my forging skills improved, so I can't help you there. If nothing else, you could do a san mai type construction with it, insert maybe a 1095 bit?